Connect with us

Latest

Analysis

News

This scandal should be investigated – and it’s not Russiagate

Special Counsel should look into the conduct of the US intelligence community and how it sought to swing the election to Hillary Clinton and away from Donald Trump

Alexander Mercouris

Published

on

15,007 Views

Message from The Duran: If you like this article then please consider supporting our Crowdfunding campaign.  We depend on your support to continue to provide you with articles like this one.

In my last article on Russiagate I made known my continued doubts that the bureaucracy in Washington would ever agree to the wide-ranging investigation of the events of the US Presidential election which is now pressing.

To be clear, this investigation must go beyond Special Counsel Robert Mueller’s current narrow investigation into the allegations of collusion between the Russians and the Trump campaign.

Sixteen months after those claims first began to be investigated no evidence of such collusion has been found outside of the Trump Dossier, which even its compiler Christopher Steele now admits is not completely accurate (he now says it is “70-90% accurate”).

Michael Flynn’s conversations with Russian ambassador Kislyak, Jeff Sessions’s two meetings with Russian ambassador Kislyak, Jared Kushner’s meeting with Russian ambassador Kislyak (which as it turns out was misreported), Donald Trump Junior’s meeting with the Russian lawyer Natalia Veselnitskaya, Carter Page’s various activities, and the indictments of Paul Manafort, Rick Gates and George Papadopoulos, do not provide evidence of illegal collusion between the Trump campaign and the Russians.  On the contrary they evidence that no such collusion took place.

I am in full agreement with the independent blogger Caitlin Johnstone  that if any illegal collusion had taken place evidence for it would have been found long ago.

What the evidence points to is – as Jared Kushner has admitted – a chaotic and disorganised Trump campaign, incapable of carrying out any sort of secret or illegal collusion not just with the Russians but with anyone, with unpaid and junior staffers like George Papadopoulos and Carter Page amateurishly attempting – in one case enthusiastically, in the second case calculatedly – to do foreign policy with Russia all by themselves, without receiving guidance or encouragement from the Trump campaign.

Nothing those people who were genuinely close to Trump  – eg. Manafort, Flynn, Kushner, Sessions and Donald Trump Junior – did during the campaign looks to me wrong or improper.

By contrast, whilst there is no evidence of illegal collusion between the Trump campaign and the Russians, and no prospect of anyone finding such evidence, there is now abundant evidence that the US intelligence community, the Justice Department and the FBI were pulling out the stops during the election to help Hillary Clinton.  Consider:

(1) The FBI took it on itself to announce that there would be no prosecution of Hillary Clinton’s misuse of her private email server whilst Secretary of State, despite this being illegal and despite her wilful destruction of thousands of her emails which passed through her server.

This happened following a conversation between Bill Clinton – Hillary Clinton’s husband – and Attorney General Loretta Lynch, which former FBI Director James Comey admits was improper.

The decision not to proceed to a prosecution was moreover announced by former FBI Director James Comey in a manner which Deputy Attorney General Rod Rosenstein and the Justice Department admit was also improper.

(2) The FBI did not undertake its own independent forensic investigation of the DNC’s and John Podesta’s computers following Hillary Clinton’s, the DNC’s and John Podesta’s complaints of Russian hacking of those computers.

Instead it accepted Hillary Clinton’s, the DNC’s and John Podesta’s assertion that the Russians had hacked the DNC’s and John Podesta’s computers, even though this assertion is based on nothing more than the opinion of a private expert – Crowdstrike – which was paid to provide its opinion by the DNC.

Having accepted Hillary Clinton’s, the DNC’s and John Podesta’s assertion that the Russians had hacked the DNC’s and John Podesta’s computers, the FBI thereafter did none of the things which a proper investigation of the hacking claims would have required..

The FBI did not for example insist on on being given access to the computers or seek a warrant to obtain possession of the computers; nor did the FBI draw any inference from the refusal of the DNC and John Podesta to allow it access to their computers; nor did the FBI interview any of the relevant witnesses, such as the staff of the DNC, Julian Assange, Craig Murray and the staff of Wikileaks.

(3) As Joe Lauria has pointed out, there is now compelling evidence that the original allegations of illegal collusion by the Trump campaign with the Russians originate with the Trump Dossier, which it has now been confirmed was paid for by the DNC and the Hillary Clinton campaign.

There is now also compelling evidence that it was the ‘information’ in this Dossier which was used to obtain FISA warrants which led to the surveillance of Paul Manafort and Carter Page and possibly of others during the election campaign.

Since the Justice Department, the FBI and the US intelligence community refuse to discuss the Trump Dossier publicly, or the extent of their reliance on it, and will not say what evidence was provided to the FISA court to obtain the FISA warrants, it is not known whether the FISA court was told when the FISA warrants were applied for that the information upon which the applications were  based apparently originated in a Dossier paid for by the DNC and the Hillary Clinton campaign.

(4) Though the Justice Department, the FBI and the US intelligence community have presumably known from the outset that the Trump Dossier was paid for by the DNC and the Hillary Clinton campaign, Trump was not told this when as President elect he was first shown the Dossier by former FBI Director Comey during the meeting between Trump and the intelligence chiefs on 6th January 2017.

Though the Justice Department, the FBI and the US intelligence community have presumably known from the outset that the Trump Dossier was paid for by the DNC and the Hillary Clinton campaign, they did not disclose this important fact either to the American people or to Congressional investigators, with this key fact only becoming known in the last few weeks as a result of the enquiries of the Congressional investigators.

Nor do the Justice Department, the FBI and the US intelligence community seem to have drawn any inferences from the fact that the DNC and the Hillary Clinton campaign wanted to keep their role in paying for the Trump Dossier secret.

I would add that if the Justice Department, the FBI and the US intelligence community did not in fact know that the Trump Dossier was paid for by the DNC and the Hillary Clinton campaign, then that would prove a grossly incompetent and biased investigation.

It ought to be the first order of business when considering ‘evidence’ of the sort purportedly provided by the Trump Dossier to find out who had paid for it.  It would beg a host of questions if this was not done.

(6) The use of FISA warrants to undertake surveillance of persons involved in the Trump campaign during the election to an extent which has still not been fully disclosed was anyway inherently abusive.

FISA is not supposed to be used to carry out surveillance of US citizens.  Rather it is supposed to be used to enable surveillance of the agents of foreign powers.  That is why its full title is Foreign Intelligence Surveillance Act (“FISA”).

In this case all the safeguards seem to have been thrown to the winds.  Though it is legally possible to undertake ‘incidental surveillance’ of US citizens caught by surveillance carried out under FISA warrants (so called “warrantless surveillance”) in this case there seems to be little doubt that Manafort and Carter Page were actually specifically targeted.

Former FBI Director Comey moreover admitted to President Trump – and it has been admitted repeatedly since – that Trump himself is not the target of the Russiagate investigation, and it is denied that he was ever a surveillance target.

Given that this is so why was it necessary to place anyone under surveillance at all?  Why did the Justice Department, the FBI and the US intelligence community not simply inform Trump during the election that there were serious concerns about the activities of some members of his campaign and invite him to take the necessary action?

Why instead of taking that obvious – and obviously appropriate – step which might have led to the individuals in question being removed from the campaign – was a campaign of secret surveillance undertaken instead?

Was it because the true intention was not to protect the integrity of the election but rather to undertake secret surveillance of the Trump campaign in the hope that this would unearth something which could be used either to prevent Donald Trump being elected or to provide grounds for his impeachment if he was elected?

(7) Just a few weeks before the election the US intelligence community published a fact-free and tortuously worded statement alleging Russian meddling in the election by implication on Donald Trump’s behalf.

Why was that done instead of the step discussed in (6) given that releasing a statement of that kind would clearly have an influence on the outcome of the election and might therefore constitute a violation of the Hatch Act (former FBI Director Comey refused to sign it for precisely that reason)?

(8) After the election members of the US intelligence community leaked to the media classified details of a secretly recorded conversation between Michael Flynn – President elect Trump’s pick for National Security Adviser – and Russian ambassador Kislyak.

As has been admitted, nothing inappropriate was actually said during this conversation.  However the leak of details of this conversation was used to force Michael Flynn to resign.

As was pointed out at the time, and as has been pointed out since, and as has never in fact been denied, the leaking of the classified details of this conversation in a way that identified Michael Flynn was a serious criminal offence under the FISA act.

That fact does not however seem to have weighed on those within the US intelligence community who leaked this information or on their superiors.  To date no-one appears to have been punished or prosecuted for it.

In any properly functioning democracy all of the above ought to be a cause of very serious concern.

It is very bad if during an election members of a campaign illegally conspire with a foreign power in order to win the election.  However – to repeat again – there is no evidence that during the 2016 election that actually took place.

It is however arguably even worse when the intelligence and security agencies of a country interfere in the conduct of an election in order to swing the outcome of the election from one candidate to another.

It becomes a matter of still greater concern if the intelligence and security agencies of that country act in concert with the party of the defeated candidate that they supported to orchestrate a media campaign vilifying the candidate they opposed because despite their efforts he won the election, and conduct a bogus investigation of phoney collusion allegations in order to put pressure on him and to discredit him and in order to conceal their own activities.

In such a situation one must question whether the country where such things are happening is any longer a democracy at all.

This however is the extremely dangerous situation in which the American Republic now finds itself.

The need for someone to look into all of this and to find out what really happened during the 2016 election would appear to be obvious.

I would add that it is by no means impossible that serious criminal offences were committed over the course of the election, which because of the diversion of time and resources into investigating the phoney Trump campaign/Russian collusion allegations are not being investigated.

These could include all or any of the following:

(1) Possible obstruction of justice arising from Hillary Clinton’s destruction of 30,000 emails which passed through her private email server;

(2) Obstruction of justice arising from the DNC’s refusal to allow the FBI access to its computers;

(3) Violations of constitutional provisions in the event that the FISA warrants were improperly used and obtained;

(4) Violations of the Hatch Act, which specifically prohibits any US government official from

[using] his official authority or influence for the purpose of interfering with or affecting the result of an election

(5) last but by no means least, the straightforward and indisputable crime of the leaking of classified information to force the resignation of Michael Flynn.

The above list of possible crimes is not intended to be exhaustive.  Other crimes may have been committed as well.  I am not in a position to say.  An investigator commissioned to look into this affair might however find more.

Of course if there was collusion between the Democrats and the US intelligence community which led to any one of the above crimes being committed then that would be a very serious matter indeed.  The US would then have a serious constitutional crisis on its hands.  However it is important to say that at the moment there is no evidence of this.

However enough is already known about what went on during the 2016 election to give rise to very serious concerns.  Loud alarm bells ought to be ringing.  It is alarming that they are not or if they are that people seem to be deaf to them.

The problem is that far too many important people are compromised by this affair, making it completely unsurprising that calls for the appointment of another Special Counsel to look into their activities is running into fierce resistance.

Thus in Congressional testimony Attorney General Sessions appeared to push back on suggestions that another Special Counsel should be appointed, whilst a meeting between CIA Director Mike Pompeo and William Binney, the former NSA official behind the recent VIPS report which has cast doubt on the Russian hacking claims, seems to have resulted in nothing.

Nonetheless the proposal for the appointment of another Special Counsel is now out in the open, though in my opinion some of its advocates are not helping matters by asking that the new Special Counsel be instructed to look into the Uranium One case.  Whilst there may be a scandal buried deep inside that tangled case, it has no connection to the 2016 election, which is where the focus of any expanded investigation by Special Counsel should lie.

As I have attempted to show in this article, there is actually a huge amount connected to the 2016 election for a Special Counsel to look into.  If another Special Counsel is ever appointed – and the job calls for a top constitutional law expert such as a Supreme Court Justice, not a former police investigator like Mueller – he or she will have their hands full, and should not be burdened with a sideshow like Uranium One.

I will not pretend that I have any very great hopes that such a Special Counsel will be appointed.  On the contrary the odds are heavily against it.

However anyone who genuinely cares about the future of democracy in the US ought to be demanding it.

Since there are still such people in the US, I for one am not yet willing to give up hope.  Presumably there are still people in America who remember that the price of liberty is eternal vigilance.

Message from The Duran: If you like this article then please consider supporting our Crowdfunding campaign.  We depend on your support to continue to provide you with articles like this one.

 

Liked it? Take a second to support The Duran on Patreon!
Advertisement
Click to comment

Leave a Reply

avatar
  Subscribe  
Notify of

Latest

Russian Il-20 downed by Syrian missile. Russia blames Israel. Israel blames Syria (Video)

The Duran – News in Review – Episode 110.

Alex Christoforou

Published

on

The unthinkable has happened in Syria.

The world now teeters on the brink of all out war in Syria as a Russian Il-20 was downed by Syrian missile after Israeli F-16s used it as cover during attack, according to statements made by the Russian Ministry of Defense.

President Vladimir Putin, answering a reporter’s question during a press conference with Hungarian PM Viktor Orban, said the downing of the Russian Il-20 plane looks like “a chain of tragic circumstances.” 

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the tripwire triggered that has the potential to tip the fragile balance in Syria towards conflict between Russia, Iran and Israel.

Remember to Please Subscribe to The Duran’s YouTube Channel

The Russian military says an Israeli raid on Syria triggered a chain of events that led to its Il-20 plane being shot down by a Syrian S-200 surface-to-air missile. Moscow reserves the right to respond accordingly.

Russian Defense Ministry spokesman Maj. Gen. Igor Konashenkov said…

“Israel did not warn the command of the Russian troops in Syria about the planned operation. We received a notification via a hotline less than a minute before the strike, which did not allow the Russian aircraft to be directed to a safe zone.”

The statement by the Russian Defense Ministry said that four Israeli F-16 fighter jets attacked targets in Syria’s Latakia after approaching from the Mediterranean.

The Israeli warplanes approached at a low altitude and “created a dangerous situation for other aircraft and vessels in the region.”

The statement further said that 15 Russian military service members have died as a result…

“The Israeli pilots used the Russian plane as cover and set it up to be targeted by the Syrian air defense forces. As a consequence, the Il-20, which has radar cross-section much larger than the F-16, was shot down by an S-200 system missile.”

According to reports from RT, the Russian military said that the French Navy’s frigate ‘Auvergne,’ as well as a Russian Il-20 plane were in the area during the Israeli operation.

Map of the incident on September 17 in Syria provided by the Russian defense ministry.

The Russian ministry said the Israelis must have known that the Russian plane was present in the area, but this did not stop them from executing “the provocation.” Israel also failed to warn Russia about the planned operation in advance. The warning came just a minute before the attack started, which “did not leave time to move the Russian plane to a safe area,”the statement said.

The statement gives a larger death toll than earlier reports by the Russian military, which said there were 14 crew members on board the missing Il-20. It said a search and rescue operation for the shot-down plane is underway.

A later update said debris from the downed plane was found some 27km off the Latakia coast. The search party collected some body parts, personal possessions of the crew, and fragments of the plane.

Meanwhile Israel has come out to blame the Syrian government for the downing of the military plane, according to an IDF statement.

Israel said that it “expresses sorrow for the death of the aircrew members” of the Russian plane. However, it stated that the government of Bashar Assad “whose military shot down the Russian plane,” is “fully responsible” for the incident.

Israel further blamed Iran and Hezbollah for the incident.

The Israel Defense Forces (IDF) explained that its jets were targeting a Syrian facility “from which systems to manufacture accurate and lethal weapons were about to be transferred on behalf of Iran to Hezbollah in Lebanon.”

Israel claimed that the weapons were “meant to attack Israel.”

Via RT

The IDF assumed that the Syrian anti-air batteries “fired indiscriminately” and didn’t “bother to ensure that no Russian planes were in the air.” The Israelis said that when the Syrian military launched the missiles which hit the Russian plane, its own jets were already within Israeli airspace. “During the strike against the target in Latakia, the Russian plane that was then hit was not within the area of the operation.”

According to the Israeli military, both IDF and Russia have “a deconfliction system,” which was agreed upon by the leadership of both states, and “has proven itself many times over recent years.” The system was in use when the incident happened, the IDF stated. The IDF promised to share “all the relevant information” with Russia “to review the incident and to confirm the facts in this inquiry.”

The military presented a four-point initial inquiry into events in Latakia. It insisted that “extensive and inaccurate” Syrian anti-aircraft fire caused the Russian jet “to be hit and downed.”

The Russian Il-20 aircraft, with 15 crew on board, went off radar during an attack by four Israeli jets on Syria’s Latakia province late Monday. Later on Tuesday the Russian Defense Ministry said that an Israeli raid on Syria triggered a chain of events that led to its plane being shot down by a Syrian S-200 surface-to-air missile.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

Trump Orders Immediate Release Of All Text Messages, Carter Page FISA Application From Russia Investigation

Trump has ordered the DOJ to release all text messages related to the Russia investigation with no redactions.

Published

on

Via Zerohedge

President Trump has ordered the Department of Justice to release all text messages related to the Russia investigation with no redactions, of former FBI Director James Comey, his deputy Andrew McCabe, now-fired special agent Peter Strzok, former FBI attorney Lisa Page and twice-demoted DOJ official Bruce Ohr.

Also released will be specific pages from the FBI’s FISA surveillance warrant application on former Trump campaign aide Carter Page, as well as interviews with Ohr.

The statement reads in full:

“At the request of a number of committees of Congress, and for reasons of transparency, the President has directed the Office of the Director of National Intelligence and the Department of Justice (including the FBI) to provide for the immediate declassification of the following materials: (1) pages 10-12 and 17-34 of the June 2017 application to the FISA court in the matter of Carter W. Page; (2) all FBI reports of interviews with Bruce G. Ohr prepared in connection with the Russia investigation; and (3) all FBI reports of interviews prepared in connection with all Carter Page FISA applications.

In addition, President Donald J. Trump has directed the Department of Justice (including the FBI) to publicly release all text messages relating to the Russia investigation, without redaction, of James Comey, Andrew McCabe, Peter Strzok, Lisa Page, and Bruce Ohr

***

As we reported last Monday, Trump had been expected to release the documents any time – with specific attention to the Page documents and the “investigative activities of Justice Department lawyer Bruce Ohr” – who was demoted twice for lying about his extensive relationship  with Christopher Steele – the former MI6 spy who assembled the sham “Steele Dossier” used by the FBI in a FISA surveillance application to spy on Page.

Republicans on the House Intelligence and Judiciary committees believe the declassification will permanently taint the Trump-Russia investigation by showing the investigation was illegitimate to begin with. Trump has been hammering the same theme for months.

  • They allege that Bruce Ohr played an improper intermediary role between the Justice Department, British spy Christopher Steele and Fusion GPS — the opposition research firm that produced the Trump-Russia dossier, funded by Democrats. (Ohr’s wife, Nellie, worked for Fusion GPS on Russia-related matters during the presidential election — a fact that Ohr did not disclose on federal forms.)
  • And they further allege that the Obama administration improperly spied on Carter Page — all to take down Trump. –Axios

Ohr, meanwhile, met with Russian billionaire Oleg Deripaska in 2015 to discuss helping the FBI with organized crime investigations, according to The Hill‘s John Solomon. The meeting with the Putin ally was facilitated by Steele.

Last month Trump called Ohr a disgrace, while also tweeting: “Will Bruce Ohr, whose family received big money for helping to create the phony, dirty and discredited Dossier, ever be fired from the Jeff Sessions  “Justice” Department? A total joke!”

Trump’s threat came one day after two tweets about Ohr, noting a connection to former FBI agent Peter Strzok, as well as a text sent by Ohr after former FBI Director James Comey was fired in which Ohr says “afraid they will be exposed.”

According to emails turned over to Congressional investigators in August, Christopher Steele was much closer to Bruce Ohr and his wife Nellie than previously disclosed.

Steele and the Ohrs would have breakfast together on July 30, 2016 at the Mayflower Hotel in downtown Washington D.C., days after Steele turned in installments of his infamous “dossier” on July 19 and 26. The breakfast also occurred one day before the FBI formally launched operation “Crossfire Hurricane,” the agency’s counterintelligence operation into the Trump campaign.

“Great to see you and Nellie this morning Bruce,” Steele wrote shortly following their breakfast meeting. “Let’s keep in touch on the substantive issues/s (sic). Glenn is happy to speak to you on this if it would help.”

“After two years of investigations and accusations from both sides of the aisle about what documents indicate, it is past time for documents to be declassified and let the American people decide for themselves if DoJ and FBI acted properly,” Freedom Caucus chairman Mark Meadows told Axios earlier Sunday.

In early August, journalist Paul Sperry tweeted that Trump may use his presidential authority to declassify “20 redacted pages of a June, 2017 FISA renewal, “and possibly” 63 pages of emails and notes between “Ohr & Steele,” and FD-302 summaries of 12 interviews.”

President Trump threatened to declassify documents two weeks ago – one day after the New York Times allegedly published an anonymous Op-Ed claiming to be from a White House official claiming to be part of an unelected “resistance” cabal within the Trump administration.

“The Deep State and the Left, and their vehicle, the Fake News Media, are going Crazy – & they don’t know what to do,” Trump tweeted earlier this month, adding: “The Economy is booming like never before, Jobs are at Historic Highs, soon TWO Supreme Court Justices & maybe Declassification to find Additional Corruption. Wow!”

Trump’s threat comes as calls by frustrated GOP legislators to release the documents have hit a fevered pitch. Spearheading the effort are Republican Reps. Meadows, Jim Jordan, Matt Gaetz and Lee Zeldin – who have repeatedly asked Trump to declassify more of the heavily redacted FISA surveillance warrant on former Trump campaign aide Carter Page in late 2016.

In June, Republicans on the House Intelligence Committee asked President Trump to declassify key sections of Carter Page’s FISA warrant application, according to a letter obtained by Fox News.

Carter Page, the DOJ/FBI’s person of interest, weighed in on the matter in late August, tweeting: “The Corrupt DOJ, co-conspirators in the DNC and their high-priced consultants correctly believed they had American democracy and the FISA Court over a barrel in 2016.”

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

Latest

De-Dollarization Tops Agenda at Russia’s Eastern Economic Forum

The Eastern Economic Forum (EEF) was held in Vladivostok on Sept.11-13. Founded in 2015, the event has become a platform for planning and launching projects to strengthen business ties in the Asia-Pacific region.

Published

on

Via Strategic Culture

This year, the EEF brought together delegations from over 60 countries to discuss the topic “The Far East: Expanding the Range of Possibilities”. A total of 100 business events involving over 6,000 participants were held during the three days.

1,357 media personnel worked to cover the forum. Last year, the number of participants was 5,000 with 1,000 media persons involved in reporting and broadcasting. The EEF-18 gathered 340 foreign and 383 Russian CEOs. Nearly 80 start-ups from across South-East Asia joined the meeting.

CLICK HERE to Support The Duran >>

This year, a total of 175 agreements worth of 2.9 trillion rubles (some $4.3 billion) were signed. For comparison, the sum was 2.5 trillion rubles (roughly $3.7 billion) in 2017.

They included the development of the Baimsky ore deposits in Chukotka, the construction of a terminal for Novatek LNG at Bechevinskaya Bay in Kamchatka and the investment of Asian countries in Russia’s agricultural projects in the Far East.

Russian Direct Investment Fund (RDIF), Mail.Ru Group, Megafon and Chinese Alibaba inked an agreement on establishing AliExpress trade joint venture. Rosneft and Chinese CNPC signed an oil exploration agreement.

The Chinese delegation was the largest (1,096 people), followed by the Japanese (570 members). The list of guests included the president of Mongolia and prime ministers of Japan and South Korea.

It was also the first time Chinese President Xi Jinping attended the event to meet his Russian counterpart. The issue of de-dollarization topped the agenda. Russia and China reaffirmed their interest in expanding the use of national currencies in bilateral deals.

During the forum, Kirill Dmitriev, the head of RDIF, said the fund intends to use only national currencies in its transactions with China starting from 2019. It will cooperate with the China Development Bank.

This “yuanification” is making visible progress with Shanghai crude futures increasing their share of oil markets up to 14 percent or even more. China has signed agreements with Canada and Qatar on national currencies exchange.

READ MORE: Eastern Economic Forum opens new chapter in US-Russia dialogue

De-dollarization is a trend that is picking up momentum across the world. A growing number of countries are interested in replacing the dollar. Russia is leading the race to protect itself from fluctuations, storms and US-waged trade wars and sanctions.

Moscow backs non-dollar trade with Ankara amid the ongoing lira crisis. Turkey is switching from the dollar to settlements in national currencies, including its trade with China and other countries. Ditching the US dollar is the issue topping the BRICS agenda. In April, Iran transferred all international payments to the euro.

The voices calling for de-dollarization are getting louder among America’s closest European allies. In August, German Foreign Minister Heiko Maas called for the creation of a new payments system independent of the US.

According to him, Europe should not allow the United States to act “over our heads and at our expense.” The official wants to strengthen European autonomy by establishing independent payment channels, creating a European Monetary Fund and building up an independent SWIFT system.

Presenting his annual program, European Commission President Jean-Claude Juncker called on Sept. 12 for the European Union to promote the euro as a global currency to challenge the dollar.

According to him, “We must do more to allow our single currency to play its full role on the international scene.” Mr. Juncker believes “it is absurd that Europe pays for 80 percent of its energy import bill – worth 300 billion euros a year – in US dollars when only roughly 2 percent of our energy imports come from the United States.” He wants the raft of proposals made in his state of the union address to start being implemented before the European Parliament elections in May.

70% of all world trade transactions account for the dollar, while 20% are  settled in the euro, and the rest falls on the yuan and other Asian currencies. The dollar value is high to make the prices of consumer goods in the US artificially low. The demand for dollars allows refinancing the huge debt at low interest rates. The US policy of trade wars and sanctions has triggered the global process of de-dollarization.

Using punitive measures as a foreign policy tool is like shooting oneself in the foot. It prompts a backlash to undermine the dollar’s status as the world reserve currency – the basis of the US economic might. The aggressive policy undermines the US world standing to make it weaker, not stronger.

Liked it? Take a second to support The Duran on Patreon!
Continue Reading

JOIN OUR YOUTUBE CHANNEL

Your donations make all the difference. Together we can expose fake news lies and deliver truth.

Amount to donate in USD$:

5 100

Validating payment information...
Waiting for PayPal...
Validating payment information...
Waiting for PayPal...
Advertisement

Advertisement

Quick Donate

The Duran
EURO
DONATE
Donate a quick 10 spot!
Advertisement
Advertisement

Advertisement

The Duran Newsletter

Trending